Jun 17, 2011
Cowen Lowered its estimates on First Solar (NASDAQ:FSLR), Suntech (NYSE:STP) and Trina Solar (NYSE:TSL) after revising its model to account for price erosion in the solar industry. The firm believes First Solar will emerge as a long-term winner citing its low cost, strong margins and balance sheet. Cowen believes Suntech is also well positioned due to its product quality and brand name. The firm believes Trina Solar will emerge a winner in a consolidating market citing its capital position and low cost structure. Shares of all three names remain Outperform rated.
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